We get this a lot on our site and the answer to Online Trading Platforms Comparison….Questions that i speak with new investors what if you’re brand new to investing you simply don’t want to decide what you in fact want to invest and you desire someone to do it for you there’s just a number of manner ins which that can happen the first off you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are produced again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios also now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they have actually made profit 14 months in a row buy these choices because you think is the right ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
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popular for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved actually important you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling alright so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal charges so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends completely how you’re investing however that is a fee to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their charges now the excellent aspect of though when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we need to be aware of two other fees the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is generally the difference that is part of the investment platform between the buy price and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me show you that again so the existing cost of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread fees it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit cash now the last feat is called an
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over night fee now this is really crucial if you’re actually using cfds yourself as well an over night fee is when you’re not doing that buy offer deal in the very same day alright there’s then an overnight charge charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which means you’re actually buying the specific asset rather than using utilize anyway you will not get hit with these charges but these charges are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you enter into the assistance area this isn’t the over night fees details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that just applies as i said to cfds there are some additional charges of course depending upon what you are purchasing too this is on your own so keep that in mind but complete fees are completely within their help information all right and we discussed along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of really using these copy functions they don’t have any extra costs on top of the normal fees that
exist now what you need to keep in mind though is these potentially handled by other individuals entirely or in some cases have actually created portfolios you have actually got a real individual doing the management you have to make sure you pick the individual that’s right for you much like any profession this is your financial possessions so we absolutely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are using your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a great choice for you again to test the theories all right you might want to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe have fun with it obviously you might have missed out on gains and losses during that time naturally if you had invested your genuine money it allows you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just means am i alright with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally means they’ll lose at some time in their journey obviously individuals do earn money as well and i have actually got videos everything about how you can make certain you are among individuals to actually make money however in this circumstance ensure you research your danger level would you be alright providing your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too truly easily over here you can copy people now it will provide you a great deal of choices and you can use the system to really look for someone that you expensive in fact following so let’s see possibly we desire somebody from united kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has met that requirements and it does provide you a danger element as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s also got a bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Online Trading Platforms Comparison.
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